Unformatted text preview: given B P (A intersection B) = P(B) X P(A|B) Rule of Total Probability Exhaustive events are events in which one or more of them must occur. Ex: A politician selected is either Republican, Democrat or Independent. One of them must occur. A collection of events is a partition of the sample space if the events are mutually exclusive and exhaustive. If they are both, then exactly one of them must occur because the events must occur (if they’re exhaustive) and at most one of the events can occur (if the events are mutually exclusive). The Rule of Total Probability is the denominator of Bayes Rule and it applies to mutually exclusive and exhaustive events....
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This note was uploaded on 03/21/2010 for the course ECON N/A taught by Professor Bognar,k. during the Winter '10 term at UCLA.
- Winter '10